British-Indian Billionaire Brothers Eye F1 Team Marussia

Updated: 28 October 2014 12:34 IST

According to a leading English Daily, British Indian brothers Baljinder Sohi and Sonny Kaushal are looking to purchase Formula One team Marussia for a reported sum of 70 million euros.

British-Indian Billionaire Brothers Eye F1 Team Marussia
File Photo: F1 team Marussia holding a message for their driver Jules Bianchi who suffered a horrific crash in the Japanese Grand Prix. © AP

British Indian brothers Baljinder Sohi and Sonny Kaushal are reportedly looking to purchase Formula One team Marussia, based in Britain and owned by Russian billionaire Andrey Cheglakov. (Marussia enter bankruptcy protection)

According to The Telegraph on Monday, the purchasing sum is a reported 70 million euros (almost $89 million).

The English daily said the two brothers, who made their fortune in steel industry, have been in talks with Andy Webb, the chief executive of the beleaguered team, for the past three weeks to buy Marussia and save it from going into administration.

Sohi said that both the sides were separated by some 12.7 million euros in their evaluations of the deal to save the 190 staff of the team, who announced last week that they would miss two next GPs in Austin and Sao Paolo.

"We are very close to a deal," Sohi said.

"But it has to be the right price. We have put in a serious offer and we will see what happens."

If the deal passes through the two brothers would also inherit Marussia's current debt of about 38 million euros, believed to be owed by the team to Ferrari for their engines this season.

Topics : Marussia Formula 1
Related Articles
Formula One: Jules Bianchi's Family Launches Legal Action Against FIA
Formula One: Jules Bianchi's Family Launches Legal Action Against FIA
'No Significant Progress' in Jules Bianchi Condition, Says Father
'No Significant Progress' in Jules Bianchi Condition, Says Father
Jules Bianchi Condition Remains 'Stagnant', Says Father
Jules Bianchi Condition Remains 'Stagnant', Says Father
Show Comments
Advertisement